克鲁格曼 教材《国际经济学》(国际金融)习题答案要点

1、克鲁格曼 教材国际经济学(国际金融)习题答案要点1 导读：就爱阅读网友为您分享以下“克鲁格曼 教材国际经济学(国际金融)习题答案要点1”的资讯，希望对您有所帮助，感谢您对92的支持!中华经济学习网 官方网站：圣才学习网 The relative decline in the price of good 2 caused labor to be reallocated: labor is drawn out of production of good 2 and enters production of good 1 (1=62, L2=38). This also leads to an ou

2、tput adjustment, that is, production of good 2 falls to 68 units and production of good 1 rises to 76 units. And the wage rate is approximately equal to 0.74. Q2?Q2(K2,L2)Q2 slope?12slope?1100PPF Q1 L2 100L1 Q1?Q1(K1,L1) d. Calculate the effects of the price change on the income of the specific fact

3、ors in sectors 1 and 2. With the relative price change from P2/P1=2 to P2/P1=1, the price of good 2 has fallen by 50 percent, while the price of good 1 has stayed the same. Wages have fallen too, but by less than the fall in P2 (wages fell approximately 25 percent). Thus, the real wage relative to P

4、2 actually rises while real wage relative to P1 falls. Hence, to determine the welfare consequence for workers, the information about their consumption shares of good 1 and good 2 is needed. 3. In the text we examined the impacts of increases in the supply of capital and land. But what if the mobile

5、 factor, labor, increases in supply? 中华经济学习网 官方网站：圣才学习网 中华经济学习网 官方网站：圣才学习网 a Analyze the qualitative effects of an increase in the supply of labor in the specific factors model, holding the price of both goods constant. For an economy producing two goods, X an Y, with labor demands reflected by thei

6、r marginal revenue product curves, there is an initial wage of w1 and an initial labor allocation of Lx=OxA and Ly=OyA. When the supply of labor increases, the right boundary of the diagram illustrated below pushed out to Oy. The demand for labor in sector Y is pulled rightward with the boundary. Th

7、e new intersection of the labor demand curves shows that labor expands in both sectors, and therefore output of both X and Y also expand. The relative expansion of output is ambiguous. Wages paid to workers fall. W MPLx?PxMPLy?Pyw1w2 b Graph the effect on the equilibrium for the numerical example in

8、 problems 2 and 3, given a relative price of 1, when the labor force expands from 100 to 140. With the law of diminishing returns, the new production possibility frontier is more concave and steeper (flatter) at the ends when total labor supply increases. L1 increase to 90 from 62 and L2 increases t

9、o 50 from 38. Wages decline from 0.74 to 0.60. This new allocation of labor leads to a new output mix of approximately Q1=85 and Q2=77. ABOyOy?中华经济学习网 官方网站：圣才学习网 中华经济学习网 官方网站：圣才学习网 Q2?Q2(K2,L2)Q2 140100PPF Q1 L2 100140L1 Q1?Q1(K1,L1) Chapter 4 1 In the United States where land is cheap, the ratio of

10、 land to labor used in cattle rising is higher than that of land used in wheat growing. But in more crowded countries, where land is expensive and labor is cheap, it is common to raise cows by using less land and more labor than Americans use to grow wheat. Can we still say that raising cattle is la

11、nd intensive compared with farming wheat? Why or why not? The definition of cattle growing as land intensive depends on the ratio of land to labor used in production, not on the ratio of land or labor to output. The ratio of land to labor in cattle exceeds the ratio in wheat in the United States, im

12、plying cattle is land intensive in the United States. Cattle is land intensive in other countries too if the ratio of land to labor in cattle production exceeds the ratio in wheat production in that country. The comparison between another country and the United States is less relevant for answering

13、the question. 2 Suppose that at current factor prices cloth is produced using 20 hours of labor for each acre of land, and food is produced using only 5 hours of labor per acre of land. a. Suppose that the economys total resources are 600 hours of labor and 60 acres of land. Using a diagram determin

14、e the allocation of resources. aLC / aTC ? (LC /QC) / (TC /QC) ?LC /TCaLF / aTF ? (LF /QF) / (TF /QF) ?LF /TF?LC ?20TCLF ?5TF We can solve this algebraically since L=LC+LF=600 and T=TC+TF=60. The solution is LC=400, TC=20, LF=200 and TF=40. 中华经济学习网 官方网站：圣才学习网 中华经济学习网 官方网站：圣才学习网 LFFood TCCloth b. Now

15、 suppose that the labor supply increase first to 800, then 1000, then 1200 hours. Using a diagram like Figure4-6, trace out the changing allocation of resources. Cloth c. What would happen if the labor supply were to increase even further? At constant factor prices, some labor would be unused, so fa

16、ctor prices would have to change, or there would be unemployment. 3. “The worlds poorest countries cannot find anything to export. There is no resource that is abundant certainly not capital or land, and in small poor nations not even labor is 中华经济学习网 官方网站：圣才学习网 Land Labor LCL?800: TC?33.33, LC?666.

17、67, TF?26.67, LF?133.33 L?1000: TC?46.67, LC?933.33, TF?13.33, LF?66.67TF L?1200: TC?60, LC?1200, TF?0, LF?0. (compl estpeeciatlizoan).Food Land 0l1200 0l1000 0l800 Labor 中华经济学习网 官方网站：圣才学习网 abundant.” Discuss. The gains from trade depend on comparative rather than absolute advantage. As to poor coun

18、tries, what matters is not the absolute abundance of factors, but their relative abundance. Poor countries have an abundance of labor relative to capital when compared to more developed countries. 4. The U.S. labor movement which mostly represents blue-collar workers rather than professionals and hi

19、ghly educated workers has traditionally favored limits on imports form less-affluent countries. Is this a shortsighted policy of a rational one in view of the interests of union members? How does the answer depend on the model of trade? In the Ricardos model, labor gains from trade through an increa

20、se in its purchasing power. This result does not support labor union demands for limits on imports from less affluent countries. In the Immobile Factors model labor may gain or lose from trade. Purchasing power in terms of one good will rise, but in terms of the other good it will decline. The Hecks

21、cher-Ohlin model directly discusses distribution by considering the effects of trade on the owners of factors of production. In the context of this model, unskilled U.S. labor loses from trade since this group represents the relatively scarce factors in this country. The results from the Heckscher-O

22、hlin model support labor union demands for import limits. 5. There is substantial inequality of wage levels between regions within the United States. For example, wages of manufacturing workers in equivalent jobs are about 20 percent lower in the Southeast than they are in the Far West. Which of the

23、 explanations of failure of factor price equalization might account for this? How is this case different from the divergence of wages between the United States and Mexico (which is geographically closer to both the U.S. Southeast and the Far West than the Southeast and Far West are to each other)? W

24、hen we employ factor price equalization, we should pay attention to its conditions: both countries/regions produce both goods; both countries have the same technology of production, and the absence of barriers to trade. Inequality of wage levels between regions within the United States may caused by

25、 some or all of these reasons. Actually, the barriers to trade always exist in the real world due to transportation costs. And the trade between U.S. and Mexico, by contrast, is subject to legal limits; together with cultural differences that inhibit the flow of technology, this may explain why the

26、difference in wage rates is so much larger. 6. Explain why the Leontief paradox and the more recent Bowen, Leamer, and Sveikauskas results reported in the text contradict the factor-proportions theory. The factor proportions theory states that countries export those goods whose production is intensi

27、ve in factors with which they are abundantly endowed. One would expect the United States, which has a high capital/labor ratio relative to the rest of the world, to export capital-intensive goods if the Heckscher-Ohlin theory holds. Leontief found that the United States exported labor-intensive good

28、s. Bowen, Leamer and Sveikauskas found that the correlation between factor endowment and trade patterns is weak for the world as a whole. The data do not support the predictions of the theory that countries exports and imports reflect the relative endowments of factors. 中华经济学习网 官方网站：圣才学习网 中华经济学习网 官方

29、网站：圣才学习网 Chapter 2 1Home has 1200 units of labor available. It can produce two goods, apples and bananas. The unit labor requirement in apple production is 3, while in banana production it is 2. aGraph out the production possibilities frontier: Homes PPF Qbanana 800600 400 2000 200400600800Qapple bW

30、hat is the opportunity cost of apples in terms of bananas? aLa?1.5 aLbcIn the absence of trade, what would the price of apples in terms of bananas be? In the absence of trade, since labor is the only factor of production and supply decisions are determined by the attempts of individuals to maximize

31、their earnings in a competitive economy, only when Pa/Pb ? aLa/aLbwill both goods be produced. So Pa/Pb ? 1.5 2Home is as described in problem 1. There is now also another country, Foreign, with a labor force of 800. Foreigns unit labor requirement in apple production is 5, while in banana productio

32、n it is 1. aGraph Foreigns production possibilities frontier: Foreigns PPF Q*banana 1000800 600 400 200 0 Q*apple80160240320400 bConstruct the world relative supply curve. 中华经济学习网 官方网站：圣才学习网 中华经济学习网 官方网站：圣才学习网 3Now suppose world relative demand takes the following form: Demand for apples/demand for

33、bananas = price of bananas/price of apples. aGraph the relative demand curve along with the relative supply curve: Da/Db?Pb/Pa DaQa?Q?aPa?1?() When the market achieves its equilibrium, we have ?DbQb?QbPbRD is a hyperbola y?1 x bWhat is the equilibrium relative price of apples? The equilibrium relati

34、ve price of apples is determined by the intersection of the RD and RS curves. RD: x?1 yy?1.5y?1.5,5 y?5?x?0,0.5)? RS: ?x?0.5?x?(0.5,? x?0.5y?2 中华经济学习网 官方网站：圣才学习网 中华经济学习网 官方网站：圣才学习网 Pa/Pb?2 cDescribe the pattern of trade. P?aee/P?b?Pea/Peb?Pa/Pb In this two-country world, Home will specialize in the

35、apple production, export apples and import bananas. Foreign will specialize in the banana production, export bananas and import apples. dShow that both Home and Foreign gain from trade. International trade allows Home and Foreign to consume anywhere within the colored lines, which lie outside the co

36、untries production possibility frontiers. And the indirect method, specializing in producing only one production then trade with other country, is a more efficient method than direct production. In the absence of trade, Home could gain three bananas by foregoing two apples, and Foreign could gain by

37、 one foregoing five bananas. Trade allows each country to trade two bananas for one apple. Home could then gain four bananas by foregoing two apples while Foreign could gain one apple by foregoing only two bananas. So both Home and Foreign gain from trade. 4Suppose that instead of 1200 workers, Home

38、 had 2400. Find the equilibrium relative price. What can you say about the efficiency of world production and the division of the gains from trade between Home and Foreign in this case? RD: x?1 yy?1.5y?1.5,5 y?5?x?0,1)? RS: ?x?1?x?(1,? x?e23ey?1.5 Pa/Pb?1.5 中华经济学习网 官方网站：圣才学习网 中华经济学习网 官方网站：圣才学习网 In t

39、his case, Foreign will specialize in the banana production, export bananas and import apples. But Home will produce bananas and apples at the same time. And the opportunity cost of bananas in terms of apples for Home remains the same. So Home neither gains nor loses but Foreign gains from trade. 5Su

40、ppose that Home has 2400 workers, but they are only half as production in both industries as we have been assuming, Construct the world relative supply curve and determine the equilibrium relative price. How do the gains from trade compare with those in the case described in problem 4? In this case,

41、 the labor is doubled while the productivity of labor is halved, so the effective laborremains the same. So the answer is similar to that in 3. And both Home and Foreign can gain from trade. But Foreign gains lesser compare with that in the case 4. 6”Korean workers earn only $2.50 an hour; if we all

42、ow Korea to export as much as it likes to the United States, our workers will be forced down to the same level. You cant import a $5 shirt without importing the $2.50 wage that goes with it.” Discuss. In fact, relative wage rate is determined by comparative productivity and the relative demand for g

43、oods. Koreas low wage reflects the fact that Korea is less productive than the United States in most industries. Actually, trade with a less productive, low wage country can raise the welfare and standard of living of countries with high productivity, such as United States. So 中华经济学习网 官方网站：圣才学习网 中华经

44、济学习网 官方网站：圣才学习网 this pauper labor argument is wrong. 7Japanese labor productivity is roughly the same as that of the United States in the manufacturing sector (higher in some industries, lower in others), while the United States, is still considerably more productive in the service sector. But most

45、services are non-traded. Some analysts have argued that this poses a problem for the United States, because our comparative advantage lies in things we cannot sell on world markets. What is wrong with this argument? The competitive advantage of any industry depends on both the relative productivitie

46、s of the industries and the relative wages across industries. So there are four aspects should be taken into account before we reach conclusion: both the industries and service sectors of Japan and U.S., not just the two service sectors. So this statement does not bade on the reasonable logic. 8Anyo

47、ne who has visited Japan knows it is an incredibly expensive place; although Japanese workers earn about the same as their U.S. counterparts, the purchasing power of their incomes is about one-third less. Extend your discussing from question 7 to explain this observation. (Hint: Think about wages an

48、d the implied prices of non-trade goods.) The relative higher purchasing power of U.S. is sustained and maintained by its considerably higher productivity in services. Because most of those services are non-traded, Japanese could not benefit from those lower service costs. And U.S. does not have to

49、face a lower international price of services. So the purchasing power of Japanese is just one-third of their U.S. counterparts. 9How does the fact that many goods are non-traded affect the extent of possible gains from trade? Actually the gains from trade depended on the proportion of non-traded goo

50、ds. The gains will increase as the proportion of non-traded goods decrease. 10We have focused on the case of trade involving only two countries. Suppose that there are many countries capable of producing two goods, and that each country has only one factor of production, labor. What could we say abo

51、ut the pattern of production and in this case? (Hint: Try constructing the world relative supply curve.) Any countries to the left of the intersection of the relative demand and relative supply curves export the good in which they have a comparative advantage relative to any country to the right of

52、the intersection. If the intersection occurs in a horizontal portion then the country with that price ratio produces both goods. 中华经济学习网 官方网站：圣才学习网 中华经济学习网 官方网站：圣才学习网 this pauper labor argument is wrong. 7Japanese labor productivity is roughly the same as that of the United States in the manufacturi

53、ng sector (higher in some industries, lower in others), while the United States, is still considerably more productive in the service sector. But most services are non-traded. Some analysts have argued that this poses a problem for the United States, because our comparative advantage lies in things

54、we cannot sell on world markets. What is wrong with this argument? The competitive advantage of any industry depends on both the relative productivities of the industries and the relative wages across industries. So there are four aspects should be taken into account before we reach conclusion: both

55、 the industries and service sectors of Japan and U.S., not just the two service sectors. So this statement does not bade on the reasonable logic. 8Anyone who has visited Japan knows it is an incredibly expensive place; although Japanese workers earn about the same as their U.S. counterparts, the pur

56、chasing power of their incomes is about one-third less. Extend your discussing from question 7 to explain this observation. (Hint: Think about wages and the implied prices of non-trade goods.) The relative higher purchasing power of U.S. is sustained and maintained by its considerably higher product

57、ivity in services. Because most of those services are non-traded, Japanese could not benefit from those lower service costs. And U.S. does not have to face a lower international price of services. So the purchasing power of Japanese is just one-third of their U.S. counterparts. 9How does the fact th

58、at many goods are non-traded affect the extent of possible gains from trade? Actually the gains from trade depended on the proportion of non-traded goods. The gains will increase as the proportion of non-traded goods decrease. 10We have focused on the case of trade involving only two countries. Supp

59、ose that there are many countries capable of producing two goods, and that each country has only one factor of production, labor. What could we say about the pattern of production and in this case? (Hint: Try constructing the world relative supply curve.) Any countries to the left of the intersectio

60、n of the relative demand and relative supply curves export the good in which they have a comparative advantage relative to any country to the right of the intersection. If the intersection occurs in a horizontal portion then the country with that price ratio produces both goods. 中华经济学习网 官方网站：圣才学习网 中